Watergate was one of the formative political experiences of Queen Bee's youth. Remember what happened to the US President who authorised the burglary and attempted bugging of the opposition headquarters?
Nixon, of course, wanted to win an election at all costs. This impulse caused him to make the poor judgement call to allow the dirty tricks campaign which included the break in to proceed.
Clearly we are in "win at all costs" mode in the 2008 election campaign. We do hope that senior people in Labour have not made the same mistake as Richard Nixon. For example, authorising the taping of private conversations, or allowing an employee to attend the National Party conference under cover, or encouraging an Party supporter to perform this role, or to fund the purchase or rental of the equipment used to obtain these tapes.
Of course, there is the still unresolved matter of the e-mails that have either been stolen or intercepted.
Involvement in anyway would, we think, lead to the end of a political career.